Concord Asset Management LLC VA Cuts Stock Position in EOG Resources, Inc. (NYSE:EOG)

Concord Asset Management LLC VA lessened its stake in shares of EOG Resources, Inc. (NYSE:EOG) by 53.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,806 shares of the energy exploration company’s stock after selling 4,294 shares during the period. Concord Asset Management LLC VA’s holdings in EOG Resources were worth $468,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of EOG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in EOG Resources by 23.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 25,102 shares of the energy exploration company’s stock worth $3,209,000 after purchasing an additional 4,749 shares during the last quarter. Catalytic Wealth RIA LLC grew its position in EOG Resources by 45.6% during the 1st quarter. Catalytic Wealth RIA LLC now owns 2,445 shares of the energy exploration company’s stock worth $313,000 after purchasing an additional 766 shares during the last quarter. Covestor Ltd grew its position in EOG Resources by 8.4% during the 1st quarter. Covestor Ltd now owns 1,270 shares of the energy exploration company’s stock worth $162,000 after purchasing an additional 98 shares during the last quarter. Resurgent Financial Advisors LLC lifted its holdings in shares of EOG Resources by 10.7% during the first quarter. Resurgent Financial Advisors LLC now owns 2,247 shares of the energy exploration company’s stock worth $287,000 after purchasing an additional 218 shares during the period. Finally, Davis R M Inc. purchased a new stake in EOG Resources in the first quarter valued at approximately $201,000. Hedge funds and other institutional investors own 89.91% of the company’s stock.

Insider Buying and Selling

In other news, Director Charles R. Crisp sold 6,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $125.60, for a total transaction of $816,400.00. Following the completion of the sale, the director now owns 60,892 shares of the company’s stock, valued at $7,648,035.20. This represents a 9.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael P. Donaldson sold 11,037 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $129.50, for a total transaction of $1,429,291.50. Following the sale, the executive vice president now directly owns 74,250 shares of the company’s stock, valued at $9,615,375. The trade was a 12.94 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EOG. Benchmark reissued a “hold” rating on shares of EOG Resources in a research report on Tuesday, November 12th. Royal Bank of Canada restated a “sector perform” rating and set a $145.00 price objective on shares of EOG Resources in a research note on Monday, October 14th. JPMorgan Chase & Co. decreased their price objective on shares of EOG Resources from $143.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Susquehanna decreased their price objective on shares of EOG Resources from $159.00 to $158.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Finally, UBS Group decreased their price objective on shares of EOG Resources from $167.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Fourteen equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $142.20.

EOG Resources Price Performance

Shares of NYSE EOG opened at $134.56 on Friday. The firm has a market cap of $75.68 billion, a PE ratio of 10.83, a PEG ratio of 3.57 and a beta of 1.28. The firm has a fifty day moving average of $126.25 and a 200 day moving average of $125.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 2.31. EOG Resources, Inc. has a one year low of $108.94 and a one year high of $139.67.

EOG Resources announced that its board has initiated a share buyback program on Thursday, November 7th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the energy exploration company to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

EOG Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.975 dividend. This represents a $3.90 annualized dividend and a yield of 2.90%. The ex-dividend date is Friday, January 17th. This is a positive change from EOG Resources’s previous quarterly dividend of $0.91. EOG Resources’s payout ratio is presently 29.31%.

EOG Resources Profile

EOG Resources, Inc, together with its subsidiaries, explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas primarily in producing basins in the United States, the Republic of Trinidad and Tobago and internationally. The company was formerly known as Enron Oil & Gas Company.